Banks and credit card issuers generally charge a forex markup fee of around 2% to 3.5% on international transactions. GST and other service charges may also apply in certain cases. The exact charges vary by bank and card type, so it is advisable to check the applicable fees before making an international transaction.
A bank account may be frozen due to incomplete KYC, suspicious transactions, or orders from courts or government authorities. Accounts that remain inactive for a long period may also face restrictions. Timely KYC updates and proper transaction records can help avoid such issues.
Growing demand for new vehicles is driving an increase in car loan approvals across India. Easier financing options, competitive interest rates, and improving consumer confidence are encouraging more buyers to purchase cars through bank and NBFC loans, supporting growth in the auto finance sector.
Filing an Income Tax Return (ITR) offers several benefits beyond tax compliance. It helps when applying for home loans, personal loans, visas, and credit cards, serves as proof of income, allows you to claim tax refunds, and can help carry forward certain business or capital losses for future tax savings.
Big news has emerged for people planning to buy an electric vehicle. A new support or incentive scheme is being considered that could provide direct benefits to buyers of electric scooters, bikes, and e-rickshaws, making EV purchases more affordable and accessible.
The RBI is planning to estimate India's Natural Real Rate of Interest and Potential GDP Growth during FY27. The Natural Real Rate of Interest is the interest rate that helps maintain a balance between economic growth and inflation without overstimulating or slowing down the economy.
The Indian government has approved a massive ₹10,000 crore fund under Startup India 2.0 to support startups. The fund aims to boost innovation, AI, deeptech, fintech, and emerging businesses through funding and growth support. The goal is to strengthen India’s position as a global startup hub.